Daijiworld Media Network - Toronto
Toronto, Jan 13: Police in Canada’s Peel Region have arrested a man in connection with Project 24K, the investigation into the theft of gold bars worth over $20 million — described as the largest gold heist in the country’s history.
According to Peel Regional Police, 43-year-old Arsalan Chaudhary was arrested on Monday at Toronto Pearson International Airport after arriving on a flight from Dubai, United Arab Emirates. While police stated that Chaudhary has “no fixed address”, earlier reports suggested he was from Mississauga.
Chaudhary has been charged with theft over $5,000, possession of property obtained by crime, and conspiracy to commit an indictable offence. He was held for a bail hearing and appeared before the Ontario Court of Justice in Brampton.
The case dates back to April 17, 2023, when a flight from Zurich, Switzerland, landed at Toronto Pearson Airport carrying a cargo shipment of around 400 kilograms of .9999-pure gold — approximately 6,600 bars — valued at over $20 million, along with $2.5 million in foreign currency. The shipment was offloaded and transferred to a holding area on airport property but was reported missing within hours.
Following the theft, police launched a cross-border investigation, which has so far led to the charging or issuance of warrants against ten individuals, with more than 21 charges laid.
Two suspects remain at large, including 33-year-old Simran Preet Panesar of Brampton, a former Air Canada employee. Panesar is alleged to have helped identify and divert the cargo by manipulating airline systems. He is believed to be in India and was traced last year to a rented apartment on the outskirts of Chandigarh. Police said an extradition request has been submitted. He faces charges of theft over $5,000 and conspiracy to commit an indictable offence.
Another accused, 36-year-old Prasath Paramalingam of Brampton, is the subject of a bench warrant after failing to appear in court on August 19, 2024.
Archit Grover was arrested at Pearson Airport in May 2024 after arriving from India. Others taken into custody include Parmpal Sidhu (54) and Amit Jalota (40), both from Ontario, as well as Ammad Chaudhary (43), Ali Raza (37) and Prasath Paramalingam (36).
Police have also issued a warrant for Durante King-Mclean, 27, of Brampton, on charges of theft over $5,000 and possession of property obtained by crime. He has recently pleaded guilty to firearms trafficking-related charges in the United States and is expected to be sentenced later this year, police said.